SPY still shortI am still short on SPY at least till bib 78% which is the resistance line as well. if we brake the resistance line then going to test fib 61.8%
chart is clear with fibs, channels, fib replacements, MA50, HMA143
Spyshort
Is the S&P 500 Just a Broadening Wedge? - My Thoughts on Why.All,
I think the demand zone pops, distribution levels and levels make sense to back this. The reason I bring it up is that it makes the SPX/SPY slight more predictable in my opinion. I think we had broken the wedge at the top, coming back down for retest and the market / virus happened. Don't get me wrong saying the market would need to correct. I just don't know it would have been then. Thoughts?
[DXY x SPX x SPY 30M May] DXY = DT Reversal, SPY/SPX UT BreakoutI don't know what this really means, just got a tip that it's odd and wanted to bring some clarity for those who do understand.
$ES, $SPY, $SPX headed to 2500. Q2 Earnings Pending,First, consider a fib retracement. We bounced back to the top fib retracement .236, and thats where we topped with a heavy head and shoulders patterned that crashed markets today. We might see a bounce and recovery soon, but I think this kicks of wave C of the correction wave, heading down now until the end of q2, where we start to see recovery happen in q3 and q4. This is a prediction and anything can happen. I expect Spy to hit 2500 or the .786 Retracement level.
Spy about to DRILL !Spy graph analysis 6/9/2020
Spy could reach 325 before dropping again...
If spy breaks 325 then we could see it go to the moon.
Overall i am bearish on SPY i think its going to drill.
Daddy powell and his big money printer could say otherwise though.
I may consider calls as the FED is pumping! if spy cant breakout of 325 then ill be dumping.
GL trading
Shoulder Head Shoulder to 2400 range $SPYSimple analyze for $SPY - right shoulder (reversal) will be around 2400 range
/ES Headed to 3068 Updated Prediction.This is an update to one of my previous predictions. Now since we have more data on levels and waves I can have a better prediction of a target. Lets see if it hits 3068 before bouncing.
SPY down just for correction According situation in US, now is the only and right time for correction.
Coronavirus pandemic will continue its rally as mass protests rejecting social distance and anti-epidemic actions.
There is no view why investors should continue to buy assets. Hope? Right now it's not so serious case for keeping their positions
SPY levels Black lines - represent last week high and low
Blue lines - respresent previous day high and low
purple line- represents supports and resistance
yellow lines- represents last month high and low
The red indicator represents anchor vwap from previous lows and high. this also works as a potential support to watch
The key thing tomorrow is if the SPY remains below or reclaim 303.16.
July 2020 Market PullbackCorrelation between moneyflow and RSI.
When RSI is nearing overbought 66 and moneyflow is increasing in the short term, but decreasing in the long term, There's a pullback probability of 85% within 5 days. Represented by the green flags and the upper Bollinger band being tested and correcting.
This suggests a pullback in July 2020
$SPY
SPY 297.50 target$SPY to possibly breathe to 297.50 to rope in shorts (and squeeze bulls).
Green niner on both the daily and $ES.
The previous green niner on $SPY allowed us to retrace ~5%- if this were to happen again it would place the $SPY at 286- however I see this highly unlikely given the major psychological level at 300 and recent 200-day MA break.
Could be wrong of course, *not investment advice.
From there will look to go long.
SPY MAJOR RESISTANCE LINE SPY is unstoppable, for whatever reason it may be. However, a major resistance level has been reached, and one might try their luck at shorting spy here.
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Wish you all best of luck in your trading!
Blow off top on SPY?Looks like the setup of a classic blow off top chart pattern. Might see new lows around August and then continue the downtrend after a short relief rally. Let's see what happens!
Next Week's OutlookVery strong finish this week, but I'm leaning toward the bearish outlook below 2980. Running into the 200ma on the Daily, and the 20ma on the weekly. I expect a below the level we broke into the week's close. Then I will take a short off a retest of that level.
Fundementals, The Election, The Fed, Bonds and the ProphecySo Everyone is bearish and for good reason; Unemployment and fundamentals loom over this market but everyone forgets the Bond market and the FED who are pushed by the republicans and Donald Trump, above anyone else, to push the stock market higher. They are pushing the bond guys to buy this market and are printing all the cash necessary to keep it going (stimulus checks and loans). There is also that Simpson's prophesy looming in the background about how DT is going to bankrupt the US which may actually play out. So what if this is how it happens because what's the alternative, the stock market does what the least likely is going to happen and right now it either goes sideways forever or it goes up. Going down with all this cash floating around seems unlikely but it can happen and many bears have tried believe me. So I see a stock market bubble forming, at least for a short period of time. I do see another crash but only after things actually look grim again like a second big wave in November but right now it is fated to keep going up because of these factors in play.
PS: Maybe this is the Top.
SPY BEARISH DIVERGANCE INDICATORSNothing to see here. Just keep buying stocks and ignore the news if possible.
